Envestnet | Yodlee and Varo Money Drive Fintech Innovation with New Partnership

Varo Money Inc. incorporates Envestnet | Yodlee's data aggregation platform to provide customers with proactive alerts that help improve their financial health

REDWOOD CITY, Calif., Jan. 31, 2017 /PRNewswire/ -- Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced it is partnering with Varo Money Inc., a mobile-only banking startup that helps consumers gain greater control of their financial lives, providing customers with a more customized mobile banking experience and better insights into their financial well-being.

With the integration of the modern RESTful Envestnet | Yodlee Aggregation API, Varo Money can easily and quickly access the Envestnet | Yodlee Financial Data Platform to provide customers with a personalized banking experience through real-time, proactive alerts about their budgeting goals, cash flow changes and other issues vital to their financial wellness. Varo Money is also integrating the Envestnet | Yodlee Account Verification API to provide customers with a quick, secure way to connect accounts and balances and provide low-cost funding options, while significantly reducing customer risk.

"We're excited to be partnering with a company committed to disrupting the banking landscape by providing consumers with a simple and customized mobile banking experience," said Chris Chen, Senior Vice President and General Manager of the API Team at Envestnet | Yodlee. "Allowing customers to improve their financial outcomes should be the central goal of all financial offerings, and it's great to see Varo Money leverage our platform to deliver innovative solutions that help customers achieve their goals."

"Varo Money is committed to creating the next-generation bank that puts customer financial health at the center of development, and a vital part of this is giving customers a complete view of their financial situation and updating them in an intelligent manner," said Colin Walsh, CEO of Varo Money. "By partnering with Envestnet | Yodlee, we're able to provide a truly modern mobile experience while also offering proactive alerts that could have a significant impact on their financial well-being."   

For more information about Envestnet | Yodlee, please visit www.yodlee.com.

About Envestnet

Envestnet, Inc. (NYSE: ENV) is the leading provider of intelligent systems for wealth management and financial wellness.  Envestnet's unified technology enhances advisor productivity and strengthens the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet enables a transparent, independent, objective, and fiduciary standard of care, and empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet's Advisor Suite enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, personalized financial apps and services for millions of consumers. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.

More than 52,000 advisors and 2,500 companies including: 16 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
Information provided should not be construed as legal or regulatory advice or guidance.

For more information on Envestnet, please visit www.envestnet.com and follow @ENVintel.

About Varo

Varo Money, Inc. is a financial technology company based in San Francisco, California. Varo was founded on the belief that there is a better way to bank that will help improve the financial outcomes of a generation of consumers. Varo is working with several partners and a panel of millennial advisors to develop and deliver an innovative banking experience in the U.S. For more information please visit www.varomoney.com.  Follow us on Twitter at @varomoney.

SOURCE Envestnet | Yodlee